This time last year, buyers and real estate professionals were begging for more inventory and an easing of the upward pressure on home prices. It appears that these wishes have been granted. Overall in 2018, median sales prices rose a modest 5 percent for single family homes and 3.2 percent for condos. The level of supply increased by 17 percent and 11 percent respectively. The rise in interest rates in the second half of last year slowed demand from homebuyers, but rates have now settled and buyers are hitting the market with a pent-up demand for new and existing housing. NerdWallet’s 2018 Home Buyer Report revealed that:

"Approximately one-third (32%) of Americans plan to purchase a home in the next five years. Millennials are most likely to have such a purchase in their five-year plan (49%), versus 35% of Generation X and 17% of baby boomers." Selling or searching? Need a market overview and property analysis? Contact Bev Murray for the best advice and a friendly, professional and knowledgeable approach to real estate. All backed by the Berkshire Hathaway brand!

February's Housing and Mortgage Market review suggests relatively robust market with little decline over the next 2 years for Florida!